Friday, October 30, 2009

Burr Must Go: Republicans, the party of fear?


Sting is making big headlines this morning. I like Sting, but I'm not a big fan of celebrities expressing their opinions about serious economic and political issues. These folks are overwhelmingly clueless. Most of them just need to stick to what makes them famous and quit trying to mold the impressions of others.

There were a couple comments that Sting made though that really hit home with me. Especially in referring to the Republican Party:

"It's aggressive and violent and full of fear," he said of the backlash against Obama. "They don't want change, they want things to feel the same because they feel safe there."

Yep, that pretty much sums up Fox News, the vast majority of my party, and most of the Republican politicians in Washington DC. These are all old, white, conservative people who remain firmly planted in the past. Most can't text. Few use facebook. Fewer still own an iPhone. Most do their income taxes with pencil and paper. And they all scream and shout, point fingers, and "no" is the only word with which they have comfort. Republican's are the party of the past. We fear change. And we're trying to yell our way to keeping the status quo in tact. Like the dinosaurs, we're staring down the barrel of extinction.

Richard Burr is a Republican dinosaur. This man is firmly planted in the past. He's an old, white, conservative man who loves the word "no". It's time for a new, younger, more progressive person in this role. It time to throw our dinosaur to the curb and find ourselves someone who will breathe new life into our party. North Carolina deserves better than Richard Burr.

Thursday, October 29, 2009

Burr loves rewarding the super wealthy


I ran across this post a few minutes ago. It was a post that I made to another blog back in January of this year. I'm really tired of Republicans in Washington DC bitching and moaning about our federal budget deficits. Yes, our deficit situation is dire. But who's to blame? Republicans. They handed out tax cuts like they were candy. Look where it got us. Here's a post that helps explain why we are where we are in terms of debt in this country:

A very interesting article in the Wall Street Journal about how much George Bush's income tax cuts have benefited our nation's wealthiest. In 2006, the top 400 taxpayers in our nation made an average of $263 Million each. Yep, $263 Million, in a year. That's $105 Billion for 400 people. Their average federal tax rate was 17.2%. That's down from 29.5% in 1995. So they paid an average of $45.2 Million in federal income taxes. Sounds like a lot. But thanks to George Bush, they paid $33.4 M a piece less than under Bill Clinton's tax structure. George gave $33.4 Million in walking around money to each of for our richest Americans. $13.3 Billion in tax savings for these fortunate 400.

Is it any wonder that wealthy Americans love George Bush? And is it any wonder that an Administrative Assistant and Fire Fighter married couple paying an average blended 25% federal income tax rate feel slighted and can't understand why they can't get ahead? 17.2% for the super-wealthy and 25% for middle class Americans. Very unfair.

Hey, I like paying less income taxes, just like the next guy, but our system simply isn't fair. It's way out of whack, massively favoring the very wealthy. And all this talk about the need for lower capital gains taxes, capital gains tax holidays, corporate income tax rate cuts, making the tax cuts permanent and even lower dividend tax rates, will do absolutely nothing but make it even less fair.

I'm deeply ashamed at what my Republican party has done to the United State Income Tax Code. Deeply ashamed. Ashamed enough that I want to punish Republicans who acted irresponsibly, cut income taxes deeply, and put us into this mess we're in. Republican Senator Richard Burr needs to go. This man is a disgrace to our state. North Carolina deserves better than Richard Burr.

Wednesday, October 28, 2009

Burr destroyed our home values


I've been writing some stories about my efforts to shop for real estate, step into a larger, Republican home - a good deal brought to us by my Republican Party destroying our economy. As I have been looking for a good deal, I find myself also looking for articles that could give me some guidance as to where real estate prices are headed in 2010. I've run across a few good articles:

10/27 Bloomberg: Goldman says home prices to fall 5 to 10% in '10
10/27 WSJ: Mark Zandi, home prices to fall another 10%

9/28 Barron's: Overhang of future foreclosures clouds prospects
9/22 Harris RE Blog: Triple Whammy Coming?
9/14 WashingtonExaminer.com: Deutsche Bank, home prices to fall 10.5%
9/14 Inside Housing: E&Y predicts further pricing weakness in '10
9/10 Harris RE Blog: Fannie Mae CEO Speaks, more weakness ahead
9/10 Harris RE Blog: Meredith Whitney 25% decline in housing prices

9/15 Wells Fargo: Housing prices not to trough until '10, pg 11
8/20 Calculated Risk blog: Foreclosures to peak at end of 2010

If the articles above are not enough to make you sick, I don't know what will. Our Republican Party was in power for 8 years. They set the conditions that destroyed our Real Estate Market. Republicans are to blame, period. And that's enough for me to want give our Republican Senator Richard Burr a swift kick to the curb. North Carolina deserves better than Richard Burr.

Tuesday, October 27, 2009

Burr Must Go: Looking in the mirror - Have I become a Democrat?


Lately, I've really been pleased with action coming out of Washington DC. We're getting movement on all the stuff that I really care about:

Health Care. Good debate is happening on the Health Care front. Meaningful legislation is moving forward. I'm not entirely pleased with where it's going, but finally, something's going to happen. This issue has been ignored for far too long. Its wrecking our pocketbooks, making our companies uncompetitive in a world market, and leaving a very large swath of our country out on the streets in terms of care.

Executive Pay.
We're still not doing near enough to clamp down on executive pay. It's been another issue that we've simply ignored for far too long. But we're making some progress to give shareholders a say in executive pay. We're putting pressure on executives in government supported companies to clamp down on pay. At least now its under the microscope. It just feels like some attention is being directed to rein in egregious executive pay in this country.

Income Tax Cheating. We finally have an IRS getting aggressive with high income taxpayers who hide their assets offshore. We're throwing the book at governments, lawyers, accountants, and bankers who aide in this criminal activity. Congress is bringing stricter legislation to the table. The justice department is getting engaged.

Securities Markets. Our SEC is awake again. We're getting more adult oversight in our financial markets. We're addressing the "too big to fail issue". We're clamping down on insider trading and other unfair issues that made for an uneven playing field between professional and retail investors. We're putting more power in the hands of shareholders. We're taking back our nation's corporations from the entrenched CEO's and Board of Directors who had hi-jacked and fleeced our companies for their own personal gain.

Banking. We're taking power away from the bankers. We're dialing down those egregious fees and strict terms that made no sense what so ever. We're giving the consumer a fair shake against the meaningfully more powerful bankers who fleeced consumers for far too long.

Education. We've taken a bazooka to the for-profit student loan lenders. These people were making egregious amounts of money off our children and off the parents struggling to pay for run away education costs. We've put them out of business.

I'm pleased with all these things. I'm very pleased. And that has me tremendously worried. These things are happening while a Democrat controls the White House and Democrats control Congress. I'm taking a very hard look in the mirror these days and asking myself if I've become a Democrat.

No. Absolutely not. I am not a socialist. I am a capitalist. I believe in the free markets. I firmly believe in the concept of individual responsibility as the driving force in our nation. I don't care for big brother government. But, I also recognize the critical need for referees in our system. We must have adult, responsible oversight, and rules, under which our markets operate and our citizens act. We didn't get these things in the Bush Administration. And the values of our homes went to hell, our neighbors lost their jobs, our retirement plan balances plummeted, our education, energy and medical costs went through the roof, and our paychecks stayed stagnate.

My Republican Party lost its rudder. For far too long, we simply operated under the concept of each man for himself. We allowed this country, its markets, its people, to run wild, out of control, do whatever they wanted to do in order to enrich themselves at the expense of everyone else. We allowed our government and our society to spin out of control. We drank the kool-aide of laissez-faire capitalism, instead of the concept of free markets with rules and adult oversight.

I'm still a Republican. But I'm simply madder than hell at all my fellow Republicans who acted irresponsibly in Washington DC. I'm furious with all the wing nut Republicans who only point fingers and scream at the top of their lungs. I'm tremendously upset with Republicans who think that no government is a good government. These people are clueless dolts. They dominate our party. They sit in Washington DC and impede progress. And our Republican Senator Richard Burr is among this group. He's a ring leader. He needs to go. North Carolina deserves better than Republican Senator Richard Burr.

Thursday, October 22, 2009

Burr is like a Realtor


Posts here are lite because I'm still spending an inordinate amount of time shopping for a Republican home - a good deal brought to us by Republican mismanagement of our economy. Our local real estate market is really screwed up. There are a record number of homes for sale, and homes are sitting on the market for a record period of time. Foreclosure and short sale lists are expanding. It's a sick market and you'd think that I could find something readily in a market like this. But it's taking a long time to reach a deal. Why? Because Realtors have royally screwed up the economics of Real Estate. Realtors are to blame for this market not clearing transactions in a normal manner. Realtors are preventing home sales from happening.

On January 1, 2008, our local county reassessed our property values to the then current market value. That value is stuck in the minds of sellers when they go to put their home up for sale. But I track sales very closely, getting email alerts daily for all home sales > $700 K in our county. Homes in that price range are usually around 3800 sq feet or more in size and considered the upper-end for our market. The home sales that are happening are closing in the range of 85 - 90% of property tax value, consistently. That means we've had an average of about a 10 -15% decline in values in our area over the last 2 years.

Some sales are going off at even lower values. There are a number of distressed sales happening in the range of 65 - 70% of tax value. These don't happen often, but they're happening, and the number of these transactions are growing. Therefore, buyers who know the market won't pay more than 85 - 90% of tax value for a home they really want. And many of the buyers who really understand the market are looking for that deal in the 65 - 70% of tax value range. A number of buyers are splitting the different and bidding 75 - 80% of tax value as an opening offer.

There are two problems that prevent our market from operating in a normal manner. The first is that sellers are oblivious to the current economics of the real estate market. They're just clueless as to what's happening in the market. They don't track sales. The only number they might be familiar with is the tax value of their home. And since that tax value was determined almost two years ago, they want more than tax value for their property.

The second problem though is the primary problem right now. It's competitive to get a real estate listing. So Realtors don't want to be honest with potential clients. They want to tell the client what the client wants to hear. Realtors want that listing. So Realtors walk in the door and side with the warped perception in the clients' minds that they can get something over tax value for their homes. They promise the clients it can happen. They really want that listing!

The result is that homes go on the market for tax value and higher. Buyers are only willing to pay 85 - 90% of tax value, and less. By historical standards, that's a huge gap in expectations between seller and buyer. On an $800 K house, that gap can be $100 - $150 K. In more recent years, you'd offend a seller if your offer was less than $20 to $30 K off asking. Today, you need to offer $150 K less than asking right off the bat. So you can see now why houses sit unsold.

Sellers want far too much. Realtors lie to sellers. Buyers are realistic and offer the current market. The gaps between ask and offer are historically massive and offended sellers won't bend to the extent necessary. Houses sit unsold. The only way we're going to get back to a normal level of home sales is for Realtors to start telling sellers the truth.

A special message to Realtors in Raleigh, North Carolina - stop lying.

Our Republican Senator Richard Burr reminds me of Raleigh, North Carolina Realtors. He's an impediment to progress. It's time for him to go. North Carolina deserves better than Richard Burr.

Friday, October 16, 2009

Burr Must Go: On the WRONG side of key financial markets legislation


Derivatives NOT traded on exchanges.

There. There it is. That one sentence provides a crystal clear explanation as to why your house isn't worth spit. That one sentence explains why your street is littered with "For Sale" signs. That one sentence explains why your 401 K is now a 101 K. That one sentence explains why your unemployed neighbors don't have jobs and have zero hope of finding a decent job soon.

We can thank our Republican Party.

Derivatives not traded on exchanges brought down AIG and our nations Banks. They allowed $30, $40, $50 Trillion in bets to be placed against a mere $2 to $3 Trillion in sub-prime mortgage loans. They allowed our nation's President, Treasury Secretary, and Chairman of our Federal Reserve Board to be clueless about the extent of the risks to our nation's financial markets when this crises started to unfold. Derivatives not traded on exchanges made our economy go to hell, and allowed us to come pretty damn close to a total meltdown of the entire world.

The amazing thing? It's largely the Republican Party fighting AGAINST regulation of derivatives. My god, are these people really that insane?

Enough. I've simply had ENOUGH of the Republican idiots in Congress who refuse to bring sensible regulation and oversight over Wall Street and our financial markets. I've had ENOUGH of our Republican Senator Richard Burr. It isn't good enough for this man that our homes are worthless, our neighbors unemployed, and our retirement accounts shot to hell. Our Republican Party and our Senator want to destroy our lives.

YEP, I'VE HAD ENOUGH OF OUR IDIOT REPUBLICAN SENATOR RICHARD BURR. This man needs to go. North Carolina deserves better.

Thursday, October 15, 2009

Burr and Greenspan: Drinking buddies who drove our economy into the ground


A headline passed by my trading screen this morning:

08:14 Ex-Fed Greenspan say US cos cut too many workers, likely need to add workers - DJ

I laughed. Who cares? No one. No one cares what Alan Greenspan says or thinks. This man was wrong. It cost our nation dearly.

That would be Alan Greenspan, the former head of our Federal Reserve Board. He's the Laissez-Faire Republican who thought it best to allow our banking industry to police itself. That would be the guy who felt that there was no need to step in and enforce our nation's lending laws and put a stop to all the reckless lending that eventually took down our housing market. That would be the philosophical, identical twin to Republican Senator Richard Burr. These are the idiots who brought us this economic mess. These are the people who killed our retirement savings and destroyed the value of our homes.

It's time to tune these people out. It's time to punish those who put this economic mess on our doorstep. It's past time to kick Republican Senator Richard Burr to the curb. North Carolina deserves a US Senator better than our dolt Richard Burr.

Wednesday, October 14, 2009

Burr Must Go: Maddoff investors sue the SEC, Burr should pay


News is just crossing my trading screens about a lawsuit filed against the SEC. As a taxpayer, I really don't want this lawsuit to succeed. But from a practical standpoint, I hope the Lawyers filing this suit literally stomp the living daylights out of the SEC in court. And if there was justice in this world, every Bush Administration, Laissez-Faire preaching politician in our country would be held responsible for paying the bill. These politicians, Republican Senator Richard Burr included, tied the hands of our SEC. They cajoled and criticized our SEC for trying to doing its job. They put the SEC in a corner and didn't allow them to do squat. These Laissez-Faire Republican politicians are at fault for our economic mess, and for all the Wall Street crap that went on. They took the referees off the playing field. But the American people paid the price via an economic mess, and scandals like Bernie Madoff.

Now, the US taxpayers are getting sued.

Republican Senator Richard Burr is a worthless idiot of a representative for the people of North Carolina. We simply deserve better than Mr. Burr. It's time to give him his walking papers. It's time to vote Senator Richard Burr out of office.

Tuesday, October 13, 2009

Burr Must Go: We've had enough of laissez-faire capitalism


This book: The End of Easy Money and the Renewal of the American Economy, by Peter S. Goodman, is getting a good review this morning. I'm looking forward to picking it up on my next trip to the bookstore. What's the book about? Its about how laissez-faire capitalism screwed America.

Our Republican Senator Richard Burr is ALL about laissez-faire capitalism. He drank the Kool-Aide. He and his merry band of neo-cons screwed our country and made a royal mess of our economy. It's time to dish out punishment. It's simply time to run our idiot Republican Senator Richard Burr out of office.

Monday, October 12, 2009

Burr Must Go: Anti-incumbant movement on the march

There's an interesting article in the Wall Street Journal today: Rage at Government for Doing Too Much and Not Enough. It's about public anger directed at Washington, and big business. I smiled after reading the article. It does a decent job of summing up my feelings about my Republican Party, my Republican Senator Richard Burr, and Wall Street.

Our economy is a mess. And our politicians are using our money to clean up the mess. But instead of punishing those who brought this mess to our doorsteps, we're winding up rewarding them in such a manner that they continue on down the path of massive bonuses and massive compensation. But that's a laissez-faire approach to business as subscribed to by neo-con and ultra conservative Republicans. That's exactly what Republican Senator Richard Burr subscribes to - Washington needs to keep their hands off Wall Street and the business community. Bullshit.

It's simply time to dole out punishment. We first need to throw out of office anyone who served during the Bush administration. These people were asleep at the wheel. They put this mess on our doorsteps. We need to kick their sorry tails to the curb. And that includes Republican Senator Richard Burr. Then we need to go after the key players on Wall Street who ran these companies and made massive compensation off the backs of taxpayers. A large number of them need to be put away and their riches stripped. And finally we need sensible regulation and adult oversight of Wall Street and big business.

Republican Senator Richard Burr isn't getting the job done. He hides in his office. He espouses an approach to business and regulation that lacks common sense. Our Senator is a dolt and needs to be replaced. It's time to throw this bum out of office. The sooner, the better.

Wednesday, October 7, 2009

Republicans going nuts over falling dollar


This article in the Financial Times this evening paints a picture of the Republican Party going absolutely nuts over the falling dollar. It's all President Obama's fault. The Democrats are to blame. Sarah Palin is leading the charge by pointing fingers at President Obama. In her facebook page this evening she's blaming Obama for the falling dollar, rising gold, and a dependence on foreign oil. Sarah thinks these 9 months of Obama's Presidency are sure to lead our nation down the drain.

Really? I simply can't help but laugh my ass off after reading the article. This evening, as I was headed out the door, I caught some of Larry Kudlow's show - you know, the CNBC Right Wing Republican Business Hour. Kudlow was droning on and on about how the US Federal Government was trashing our dollar. He put up a series of graphs showing how, over the last 8 years, the dollar has declined by 67%! And over the last eight years, gold has risen by 300%! Over the last eight years .....

Who was in charge of Washington DC over the last eight years?

Gee, it was the Republican Party, eh? I rest my case. The dollar is crashing. Gold is going nuts. And if there's anyone to blame, it's the Republican Party. Those are the clowns who controlled our nation OVER THE LAST EIGHT YEARS.

It's time to place the blame for our economic mess squarely on the shoulders of the party most responsible. The Republican Party. Every Republican politician who served in THE LAST EIGHT YEARS needs their sorry tails kicked out of office. And that includes Republican Senator Richard Burr. This man is a disgrace. North Carolina deserves better than Republican Richard Burr.

Burr Must Go: Without the Capital, you're not going to have the jobs.

"Without the capital, you're not going to have the job growth"
"We need tax cuts in order to create jobs in this country"
"Unless we give tax credits to small businesses, we'll never be able to employ more people"

Oh please. I am simply tired of hearing the ignorant bullshit that spills out of the mouths of our Republican political leaders. Just stop it. Now. Stop and think before you talk. Republicans are mouthing those sentences left and right on Capital Hill these days. And when they say these things, they do nothing but demonstrate their complete and utter ignorance of basic economics.

Capital formation is NOT our problem right now in this country. We've got a tremendous amount of liquidity in our markets. My gosh, there's over $3 Trillion sitting in money market funds right now, earning next to nothing in the way of a return on capital. If there were decent investment opportunities, there would be more than enough in the way of capital available. And for all the cries about all the debt our nation has to finance, each and every week, week after week, the demand at auction for our nation's debt consistently exceeds supply by over 2x. So, capital formation is NOT the problem. And when you hear a Republican mouth off about the need to "free up" or "create" pools of capital for investment, just tell them to shut the hell up. They know not of what they speak.

And cutting taxes, or handing out tax credits to create jobs - what a damn waste of our money. Companies don't hire people as a result of a tax cut. No way, no how. That just is NOT the case. Companies hire people when they need additional labor in order to meet the demand for their products or services. Encouraging hiring with tax cuts or credits only sets a company up for failure. It leads to hiring more people than needed to operate efficiently. It leads to temporary hiring and eventual layoffs.

This brings us to the only need we have in our economy right now. We need to create demand. That's the only reason we are currently suffering economically. There is simply not enough demand for products and services to create sufficient jobs. The focus of our country and it's leaders should be in making policy that creates demand for products and services. When you hear a political leader talk about programs and legislation that stimulate demand, you're hearing a leader who understands economics.

Republicans politicians, they are mostly idiots. They're running around right now pushing tax cuts and capital formation. Why? Because that's their answer to everything. The Republican mantra is to throw a tax cut and capital formulation program at every problem ever suffered in our world. Wrong. Simply flat assed wrong. Tax cuts and capital formation are concerns when our economies are firing on all cylinders, interest rates are high, and budgets are in surplus. But at the very bottom of an economic cycle, the focus must be on supporting and encouraging DEMAND.

Republicans who talk up tax cuts at this stage of our economic cycle are complete and utter idiots. Vote them out of office. They don't understand even the most basic of economic principles. And Senator Richard Burr? I'm simply past being fed up with hearing him talk about the need for tax cuts. The man is an idiot and a giant embarrassment to the state of North Carolina. We deserve better than Republican Senator Richard Burr. Give this pitiful man the boot, before he throws another irresponsible tax cut in our direction.

Monday, October 5, 2009

Burr Must Go: He screwed our US Dollar


I'm scared. Honestly. I traded through the Asian currency crises. I traded through the dot.bomb crash. I traded through the oil bubble. I traded through this last economic collapse. Each and every time I came out the other side with more capital than going in. But I read an article tonight that scared the crap out of me. This article represents probably the biggest challenge ever. And if it unfolds, I'm just not sure I'm going to make it through that crises with any capital left.

Read the article. This is the result of 8 years of Republican mismanagement of our economy. And don't bother asking our Republican US Senator about the implications of every nation in the world running away from the US Dollar. Our Senator is an economic idiot. Our Senator allowed our economy to crash and burn. Our Senator acted like an 'effing idiot and stood by and allowed this mess to unfold.

North Carolina deserves better than Republican Senator Richard Burr. And when our nation goes absolutely broke, and is ravaged by inflation from a worthless currency, you're going to wish we had done better than send an economic idiot to Washington DC. Give Richard Burr his walking papers, before it's too late.

Burr Must Go: Welcome to Republican, buy-out America


Read this article in the New York Times business section. It tells the story of Simmons Mattress Company. It tells the story of a company that was bought out by Private Equity investors from Boston. This story is reminiscent of the myriad of private equity deals that were done during the Republican Bush Administration. These deals could be thought of as Republican Private Equity. And when you get right down to the basics, there were just a handful of winners, and a very large number of average Americans who simply got taken to the cleaners. These deals looked very much like the sub-prime debacle that ravaged the value of our homes. These scams happened because our Republican political leaders didn't do a damn thing to bring common sense into this equation. And our country is paying one hell of a steep price as a result.

What happened? Thomas Lee Partners, a private buyout firm from Boston bought Simmons Mattress Company. They put very little of their own money into the buyout. They leveraged up the company with massive amounts of debt. They collected massive fees, absolutely massive. The article indicates over $750 Million went into the pockets of Thomas Lee and its partners and investors. And millions in fees went to Wall Street Bankers.

Who lost? Workers. Over 1,000 were laid off last year. And the bond holders too. They lost huge when the value of their debt went down the tubes. Over $575 Million up in smoke.

Wall Street wins. A very few people make hundreds of millions. A massive number of blue collar workers lose their jobs, their pensions, their health care. Investors who bought bonds lose massively too. And not a single politician in Washington DC felt that this entire process lacked a lick of common sense. They turned a blind eye. They allowed a small number of Wall Street Bankers to screw a massive number of Americans. And those Republicans who controlled Washington DC for 8 years while this private equity boom hit peaks, they screwed America in their blindness to this absolute travesty.

Welcome to Republican America, where the rich screw America, and the ones who got the shaft are, more likely than not, now sitting in front of Fox TV News and cussing the opposition party. Not me. I've had my fill of the idiotic right wing Republicans who don't apply adult oversight and common sense to our business world. I've had enough of the likes of Senator Richard Burr. He thinks its OK for Wall Street to buy companies with no money down, suck out millions in fees, fire workers, screw bond holders, and walk away from the mess they left without any ramifications. This man is a disgrace. He needs to go. North Carolina deserves better than Senator Richard Burr.

Blogger Disclosure: Senator Richard Burr, kick this sorry bum out of office

There was some other interesting news that crossed my trading screens today:

Bloggers Must Disclose Product Ties

WASHINGTON -- Bloggers, Tweeters and online marketers will have to tell consumers when they are paid or given freebies to write positive reviews or postings, federal regulators said Monday.

The Federal Trade Commission released updated guidelines Monday designed to provide clarity for bloggers and other online writers about their responsibility to provide consumer disclosure as well as liability issues they face for making false or deceptive claims about products and services.

Allow me to just go ahead and nip this one in the bud. I blog for myself. I am paid by no one. I spend nothing, but my own personal time. And my desire is clear and simple. My Republican Party so 'effed up our economy that I want every single Republican who served during the Bush Administration to be run out of office, out of Washington DC, and if I had my way, run out of our country. These people were derelict in their responsibilities. They failed us. Now they need to be punished. And North Carolina Senator Richard Burr is among the sorry POS Republican politicians who need their walking papers. North Carolina deserves better than Republican Senator Richard Burr.

Glad I cleared the air on that one. Now, hopefully, Senator Burr won't sic the FTC on my little blog.

Read this, then kick Senator Richard Burr's sorry tail out of office


This news piece crossed my trading screens today. It really warmed my heart:

Ex-Boeing manager pleads guilty in UBS tax case

WASHINGTON, Oct 5 (Reuters) - A retired sales manager for Boeing pleaded guilty on Monday to hiding almost $2 million in Swiss bank accounts and failing to report income from the accounts on his U.S. tax returns, the Justice Department said.

Roberto Cittadini, a UBS client, made the plea in a Seattle court and faces up to three years in prison, up to a $250,000 fine as well as a civil penalty, the department said.

This would not have been possible if Republicans still controlled Washington DC. Our Republican party bowed down and kissed the tails of every filthy rich American. Our Republican Party looked the other way while the wealthy of our country stampeded across the oceans to hide their wealth from the IRS. Our Republican party did ABSOLUTELY NOTHING about this UBS income tax mess. Nothing. And our Republican Party, who turned a blind eye to this crap, now needs to be punished.

Not once did I hear or read of North Carolina Republican Senator Richard Burr coming out and speaking aggressively against Foreign Banks that help Americans hide their wealth from the IRS. Not once. And America had to borrow even more to make up for the lack of tax collections on the uber wealthy in our country stashing their riches in Swiss Banks. Now it's time for Republican Senator Richard Burr to pay a price for turning that blind eye. We need to run this sorry man out of office. North Carolina deserves better than Republican Senator Richard Burr.

Saturday, October 3, 2009

Burr Must Go: Is not landing the Olympics really the end of the world?


I honestly believe the ultra right wing of the Republican Party has gone absolutely and certifiably NUTS. Why? Because they are going berserk over President Obama's unsuccessful attempt to land the 2016 Olympics for America. Every right wing leader of the party is acting and talking like this is the end of the world. Opinion pieces in major newspapers are calling it a disaster. On CNBC last right, Larry Kudlow wouldn't shut up about it and had a string of guests on who painted this issue like it was Armageddon. The Drudge report is leading off with headline after headline making this appear like its the start of World War III. And my hard core Republican neighbors are making fun of President Obama over this issue and calling him an idiot.

Is that it? Is that all the Neo-Cons have? Our President is a failure because he didn't land the Olympics for Chicago and America?

Allow me to define failure. Failure is starting two wars, while not asking our country's citizens to sacrifice and pay for the wars. Failure is doubling our budget deficit. Failure is handing out tax cuts to the uber wealthy in this country like they were candy. Failure is allowing the number of Americans on food stamps and in poverty to hit record highs. Failure is taking adult oversight away from our nations lenders and allowing that fatal error to destroy our housing market. Failure is ignoring the middle class while they are ravaged by higher health care, energy and education costs. Failure is passing a massive drug plan for senior citizens while tying the hands of the Federal Government from negotiating the best prices for the taxpayers. Failure is such gross incompetence and negligence in managing the affairs our of economy that over $50 Trillion in worldwide wealth is wiped off the map and unemployment skyrockets to record levels. These things represent true failure. These were the failures of 8 years of Republican leadership of our country.

Our Republican political leaders were abysmal failures. My suggestion? The Neo-Cons and Republican Party need to take one hell of a hard look in the mirror. Until they own up to their failures, they don't have a leg to stand on to be critical of our current President. They just need to keep their mouths shut. They failed our country abysmally and we're all going to be paying the price for decades into the future.

And not landing the Olympics? I deem that one heck of a success. President Obama played his dutiful role of trying to sell America to the world. Thank god the world said no to sending us the Olympics. Our taxpayers are thankful for not having to shell out yet more money at a time we're breaking the bank trying to clean up the mess left by the Republican Party.

But one thing's for damn sure. I won't forgive the failure of my Republican Party. I won't forgive the failures of every Republican who served during the Bush Administration. These people need to be punished. And North Carolina Republican Senator Richard Burr failed us. He needs to go. North Carolina deserves better than Senator Richard Burr.

Thursday, October 1, 2009

Senator Richard Burr - Administrative Assistant, or US Senator?


Senator Richard Burr and his staff pride themselves in going overboard in helping their constituents. They help the people of North Carolina navigate through all the paperwork and requirements of the various agencies of the Federal Government. Well, that's surely an important issue, but is that really why we elect a person to represent us in Washington DC?

Every Senator's office should bend over backwards to help its constituents. It's a minimum requirement. And there are a number of excellent, experienced people who can staff the offices and make this high level of service a reality. But isn't it important that our US Senators spend their time on the more critical issues? From reading all the literature, press, information that comes out of our Senator's office, maybe Richard Burr spends too much time giving hands on service to the people of North Carolina, and too little time helping shape the legislation that really impacts our lives? That's the impression I get. And I suspect that it's reality.

We elected a US Senator, not an Administrative Assistant. And more often than not, I'm left with this impression that North Carolina Republican Senator Richard Burr is nothing more than a glorified Administrative Assistant. North Carolina deserves better than Republican Senator Richard Burr. It's simply past the time where we need to give this man his walking papers, and find ourselves a real Senator.